What Others Say

Updated:
12/03/2008
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KUALA LUMPUR: IJM Plantations Bhd has terminated two joint-ventures (JV) with Benua Bitara Sdn Bhd and opted to acquire the remaining 40% and 55% stakes it does not already own in the two JV companies — Mowtas Bulkers Sdn Bhd and Mowtas Multi-User Jetty Sdn Bhd.

In a statement yesterday, IJM Plantations said it would acquire the remaining 480,000 shares of RM1 each in Mowtas Bulkers and 55,000 shares of RM1 each in Mowtas Multi-User for RM480,000 and RM1, respectively.

Both companies would become wholly owned subsidiaries of IJM Plantations.

The two JV companies were set up in June 2002 to operate bulking and jetty services in the Mowtas Valley, Sandakan.